De Minimis Accounts definition

De Minimis Accounts is defined in the definition of “Collateral and Guarantee Requirement.”

De Minimis Accounts shall have the meaning assigned to such term in the Security Agreement.

De Minimis Accounts means any Deposit Account, Commodity Account or Securities Account so long as the balance in each such account, individually, does not exceed $1,000,000 at any time and the aggregate balance of all such Deposit Accounts, Commodity Accounts and Securities Accounts does not at any time exceed $2,000,000.

Examples of De Minimis Accounts in a sentence

• Borrower and each Guarantor will cause each of their respective Deposit Accounts, Commodity Accounts or Securities Accounts (in each case, other than De Minimis Accounts) to at all times be subject to an Account Control Agreement in accordance with and to the extent required by the Security Agreement.

• ARTICLE VIIIARTICLE I DISTRIBUTION OF BENEFITS 8.1 Inactive De Minimis Accounts.

• Notwithstanding anything to the contrary in any Loan Document, De Minimis Accounts held by a Grantor shall be Accounts that are Collateral hereunder, but no further action shall be required to be taken by any Grantor in respect of the establishment, perfection or priority of the grant of security in any De Minimis Account (including that no Account Control Agreement shall be required to be entered into in respect thereof).

• Schedule 4.29 hereof contains as of the Closing Date a complete and accurate list of all Blocked Accounts (including, without limitation, any Deposit Account), other than any De Minimis Accounts, maintained with any bank or other financial institution by the Borrowers or their Subsidiary Entities, each of which financial institutions shall be an Eligible Assignee and shall have executed a Blocked Deposit Account Agreement.

• The provisions of the previous sentence shall not apply to (i) deposit accounts exclusively used for payroll, payroll taxes, and other employee wage and benefit payments to or for the benefit of Borrower’s employees and identified to Bank by Borrower as such or (ii) De Minimis Accounts.

More Definitions of De Minimis Accounts

De Minimis Accounts means deposit accounts or securities accounts of a Grantor with a balance not exceeding $500,000 at any time or an aggregate balance for all such deposit accounts and securities accounts not exceeding $1,000,000 at any time.

De Minimis Accounts means deposit accounts (other than Daily Sweep Accounts) the aggregate principal balances of which do not exceed $2,000,000 at any time.

De Minimis Accounts means deposit accounts of the Borrower and the Guarantors that collectively have an aggregate balance of less than $2,000,000 and that are not subject to a Control Agreement.

De Minimis Accounts means (a) any Deposit Account, Commodity Account or Securities Account so long as the balance in each such account, individually, does not exceed $250,000 at any time and the aggregate balance of all such Deposit Accounts, Commodity Accounts and Securities Accounts does not at any time exceed $1,000,000, (b) any Deposit Account that is a zero balance account or a Deposit Account for which the balance of such Deposit Account is transferred at the end of each date to a Deposit Account that is not a De Minimis Account, (c) any Deposit Account that is exclusively used to facilitate the payment of drafts presented by sellers or lessors of Mineral Interests, so long as the aggregate balance of any such Deposit Account does not at any time exceed the amounts of the drafts that have been presented and not subsequently withdrawn (or are reasonably expected to soon be presented) for drawing against such Deposit Account and (d) any other Deposit Accounts exclusively used for trust, payroll, payroll taxes and other employee wage and benefit payments to or for the benefit of any employees of the Grantors or any of their Subsidiaries.

De Minimis Accounts are accounts of Borrower maintained with financial institutions other than Bank so long as the aggregate amount of funds in each such accounts does not exceed $50,000 individually or $250,000 in the aggregate (for all such accounts).

De Minimis Accounts has the meaning assigned to it in the definition of “Collateral and Guaranty Requirements”.

De Minimis Accounts means, collectively, the deposit accounts and securities accounts owned by Celadon Trucking Services, Inc. and maintained at Star Financial Bank, Regions Bank, or their affiliates to the extent that the aggregate balance of cash, cash equivalents and short-term marketable debt securities held by the Loan Parties in all such deposit accounts and securities accounts does not exceed $250,000 at any time, subject to temporary variances from such amount disclosed to and approved by the Administrative Agent.